Latest releases of new datasets and data updates from different sources around the world
Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema.Learn more
Quick data summaries and visualizations on trending industry, political, and socioeconomic topics from Knoema’s database.China: Is Pork a Barrier to Economic Stimulus? US Purchasing Managers Index Falls Below 50, Signals Contraction US Agricultural Exports to China Falling, Farmers Seek New Markets Learn more
Leverage our AI Workflow Tools and online data environment to manipulate, visualize, present, and export data.
In 2018, GDP based on PPP for Lao People’s Democratic Republic was 53.7 billion international dollars. Over the last 20 years, GDP based on PPP of Lao People’s Democratic Republic grew substantially from 9.87 to 53.7 billion international dollars rising at an increasing annual rate that reached a maximum of 12.25 % in 2006 and then decreased to 8.90 % in 2018.The description is composed by our digital data assistant.
GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.